Infinity doubles half-year profit

CEO says company is gaining momentum and growth will continue

IT supplier and consultant Infinity Solutions is “starting to gain real momentum”, says CEO Stuart Robb. Last week the company reported a near doubling of its half-year profit to $1.2 million for the period ended June 30, compared to $627,000 for the same period last year.

The increased profit was on the back of almost unchanged revenue, of $27.4 million. Increased activity in the higher-margin services business offset a decline in lower-margin product sales, says Robb.

Profit growth was substantially due to new business and increase in the profitability of Infinity’s southern region in particular, he says.

Current figures show the encouraging level of growth extending into the third quarter, Robb adds.

“Significant consolidation in the IT sector, both domestically and internationally, has changed the competitive landscape. The whole industry has matured significantly.”

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